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South Korea limits foreign crypto exchange access as Google Play enforces licensing

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TL;DR:

Only VASP-registered platforms will stay available on the Play Store. Local exchanges like Upbit and Bithumb could gain more market share.

Key Points:

  • South Korea limits foreign crypto exchange access as Google Play enforces licensing
  • Related to defi in the crypto space

    • Background:

    Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.

    Why It Matters:

    DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.